Stevens Institute of Technology Receives $10 Million Gift from Gianforte Family Foundation to Build New Academic Complex

Hoboken, N.J. – Stevens Institute
of Technology has announced the receipt of a record-setting $10 million
gift from alumnus Greg Gianforte ’83.

The gift, through the
Gianforte Family Foundation, is the largest single gift from a living
donor in university history. It is intended to fund an academic building
that will enable interdisciplinary research and provide necessary space
for strategic growth. Earlier today, President Nariman Farvardin
announced the gift to the Stevens community as part of his presentation
on the University’s ten-year strategic plan, which calls for an increase
in the size and academic profile of the student body, increases in
research, and a $400 million investment over the next decade.

“Mr.
Gianforte is a force of positive and transformational change at
Stevens,” said Farvardin. “This gift is a dramatic illustration of a
future that is very bright for Stevens.”

Gianforte earned his B.E.
in Electrical Engineering and M.S. in Computer Science from Stevens and
has been an entrepreneur and innovator in the computer networking and
software industries and customer experience market. In 2011, he sold
RightNow Technologies – the cloud-based customer service and support
solutions company he founded and led – to Oracle for more than $1
billion.

Gianforte gave the keynote address at the university’s
2012 Commencement ceremony and accepted an honorary Doctor of
Engineering degree.

“My father and I both graduated from Stevens.
We believe that Stevens is and has been a national treasure at the
forefront of modern engineering throughout its 142 year history,”
Gianforte said. “Stevens provided me with a strong work ethic, a
real-world focus and a code of honor which have been invaluable in my
career and life. With this gift, my wife Susan and I are thrilled to
directly impact generations of students to come.”

In June 2012,
Stevens completed one of its most successful fundraising years to date,
raising $13.8 million in its inaugural year of The President's
Initiative for Excellence, a three-year, $30 million dollar initiative
to increase support for faculty excellence and student scholarships, to
improve physical infrastructure and to establish the President’s
Distinguished Lecture Series. Members of the Stevens community believe
the unprecedented support from the Gianfortes and several other Stevens
alumni and friends is testament to the bold and ambitious vision
Farvardin has set forth for Stevens.

“We appreciate the
Gianfortes’ commitment to have an extremely positive impact on the
future of Stevens,” said fellow alumnus Edward Eichhorn ’69, Stevens
vice president of development. “This gift is the foundation for a
dynamic new educational and research facility on our campus. Their
generous investment of financial support is invaluable to creating a
sense of excitement, building momentum and strengthening the
university.”

“At Stevens we have a remarkable and generous alumni
body and Mr. Gianforte is an exceptional example of one of them. They
represent both the foundation and the future of Stevens," said Board of
Trustees Chairman Lawrence T. Babbio. “Their investments, both
financially and intellectually, will help Stevens emerge as an
influential leader in technological education and research."

“Philanthropy
of this magnitude goes great lengths to enabling Stevens to achieve the
next level of influence, effectiveness and excellence,” added
Farvardin.

About Stevens Institute of Technology

Founded in 1870, Stevens Institute of Technology, The Innovation University™,
lives at the intersection of industry, academics and research. The
University's students, faculty and partners leverage their collective
real-world experience and culture of innovation, research and
entrepreneurship to confront global challenges in engineering, science,
systems and technology management.

Based in Hoboken, N.J. and with
a location in Washington, D.C., Stevens offers baccalaureate, master’s,
certificates and doctoral degrees in engineering, the sciences and
management, in addition to baccalaureate degrees in business and liberal
arts. Stevens has been recognized by both the US Department of Defense
and the Department of Homeland Security as a National Center of
Excellence in the areas of systems engineering and port security
research. The University has a total enrollment of more than 2,400
undergraduate and 3,700 graduate students with more than 450 faculty.
Stevens’ graduate programs have attracted international participation
from China, India, Southeast Asia, Europe and Latin America as well as
strategic partnerships with industry leaders, governments and other
universities around the world. Additional information may be obtained
at www.stevens.edu and www.stevens.edu/news.